National & International Appointments
1. Govt appoints Ashwani Kumar as UCO Bank MD & CEO
- The Appointments Committee of the Cabinet (ACC) has approved the appointment of Ashwani Kumar as Managing Director and CEO of UCO Bank.
- He has replaced Soma Sankara Prasad, who superannuated on May 31, 2023.
- Prior to this, he served as an Executive Director at Indian Bank.
- He would lead the public sector bank for a period of three years from June 1, 2023.
- He would also be eligible for an extension of the term of office, after a review of his performance.
National & International Appointments
2. Ajay Yadav appointed MD of Solar Energy Corporation of India Limited
- Ajay Yadav has been appointed as the Managing Director of Solar Energy Corporation of India Limited (SECI).
- He is a 2005 batch IAS officer of the Bihar cadre.
- SECI is a Miniratna Category-I Central Public Sector Enterprise (CPSE).
- It was incorporated in the year 2011.
- It is the primary implementing agency of the Ministry of New and Renewable Energy for Renewable Energy schemes/projects towards the fulfillment of India's international commitments.
3. MeitY launches pilot project on Electronics Repair Services Outsourcing
- Ministry of Electronics and Information Technology (Meity) has launched the Electronics Repair Services Outsourcing (ERSO) Pilot initiative.
- Aim: To validate certain transformational policy and process changes to make India the Repair Capital of the World
- The pilot project is being conducted in Bengaluru and will run for three months.
- The government has supported this project to make India a world leader in a hitherto untapped domain.
4. Cabinet approves scheme to increase grain storage capacity
- The Cabinet has approved the constitution and empowerment of an Inter-Ministerial Committee for the facilitation of the “World’s Largest Grain Storage Plan in Cooperative Sector”.
- This will be done by the convergence of various schemes of the Ministry of Agriculture, Ministry of Consumer Affairs, Food and Public Distribution, and Ministry of Food Processing Industries.
- Ministry of Cooperation will implement a pilot project in at least ten selected districts.
5. Cabinet approves City Investments to Innovate, Integrate and Sustain 2.0
- The City Investments to Innovate, Integrate and Sustain 2.0 (CITIIS 2.0) has been approved for four years (2023-2027).
- Conceived by: Ministry of Housing and Urban Affairs in partnership with the French Development Agency, Kreditanstalt für Wiederaufbau, the European Union (EU), and National Institute of Urban Affairs.
- Funding: A loan of Rs.1760 crore (EUR 200 million) from AFD and KfW and a technical assistance grant of Rs.106 cr. (EUR 12 million) from the EU
6. India's GDP growth hits 7.2% for fiscal year 2022-23
- According to the Statistics Ministry's provisional estimate, India's GDP is pegged to grow at 7.2% during the fiscal year 2022-23.
- The data is 20 basis points higher than the government's second advance estimate of 7%.
- The GDP registered a growth of 6.1% in January-March 2023.
- Quarterly terms in 2022-23: 13.1% growth (Q1), 6.2% (Q2), and 4.5% (Q3)
- In the fourth quarter, the agricultural growth was estimated at 5.5% and Manufacturing growth at 4.5 %.
Honours & Awards
7. AIIMS Nagpur is the first AIIMS to receive NABH accreditation
- All India Institute of Medical Sciences (AIIMS) Nagpur has become the first of all AIIMS to receive National Accreditation Board for Hospitals(NABH) accreditation.
- The NABH accreditation is a globally recognized standard for healthcare quality.
- It assesses the performance of hospitals in various areas including patient care, safety, and organizational efficiency.
- AIIMS Nagpur achieved this accreditation by demonstrating its commitment to excellence in all areas.
Summits & Conferences
8. India-EU Connectivity Conference held in Meghalaya
- The India-EU Connectivity Conference is being organized in Meghalaya on June 1, 2023.
- It is jointly organized by the Ministry of External Affairs, EU Delegation to India, and the Asian Confluence.
- Aim: To explore possibilities of boosting connectivity investments in India’s North Eastern States and with India’s neighbours -- Nepal, Bhutan, and Bangladesh
- It was inaugurated by Meghalaya CM Conrad Sangma, and MoS for External Affairs Dr. Rajkumar Ranjan Singh.
Banking & Finance
9. Bajaj Allianz Life launches term insurance plan for Type 2 diabetics
- Bajaj Allianz Life has launched an exclusive term insurance plan for Type 2 diabetic and pre-diabetic individuals.
- The Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c is first of its kind protection plan in the Indian life insurance industry.
- The insurer offers a 10% premium reduction for individuals trying to achieve health goals and other health management services.
- The policy term ranges from five to 25 years and premiums can be paid monthly/annually.
Banking & Finance
10. Aegon first to provide life insurance cover for surrogate mothers
- Aegon Life has become the first insurance company to launch a policy that covers surrogate mothers and egg donors.
- Aim: To support the financial well-being of surrogate mothers and egg donors
- The new cover aligns with the Surrogacy (Regulation) Act, 2021 and the Assisted Reproductive Technology (Regulation) Act, 2021, introduced by the Ministry of Health & Family Welfare.
- It provides a three-year life cover for surrogate mothers and a one-year cover for egg donors
11. India emerges as key source country for FDI into Dubai
- According to a report released by 'fDi Markets’, a service from UK’s Financial Times Ltd, India has emerged as a key source country for FDI in Dubai, one of the wealthiest of the seven emirates in UAE.
- The top sectors by FDI projects from India into Dubai in 2022 were software & IT services (32%), business services (19%), consumer products, real estate, and financial services.
- The top sectors by FDI capital from India into Dubai in 2022 were consumer products (28%).
12. Pakistan, Afghanistan among global hunger hotspots: UN report
- According to the UN's Hunger Hotspots – FAO-WFP early warnings on acute food insecurity report, Pakistan, Afghanistan, and Myanmar, are among the hunger hotspots in the world.
- Globally Hunger is set to worsen in 18 'hotspots' comprising a total of 22 countries.
- Highest Concern Nations: Afghanistan, Nigeria, Somalia, South Sudan, and Yemen
- Very High Concern Nations: Pakistan, the Central African Republic, Ethiopia, Kenya, Congo, and Syria
13. Padamashree Dr Ved Kumari Ghai passes away
- A noted Sanskrit scholar Dr. Ved Kumari Ghai passed away at 91.
- She was an Indian Sanskrit scholar from Jammu City, J&K, and was head of the Sanskrit department at Jammu University.
- She was awarded the Padma Shri (India's fourth highest civilian award), a Certificate for her scholarship in Sanskrit, and President’s Award for Sanskrit.
- She was also awarded Gold Medal by Jammu and Kashmir Government for social work and the Dogra Ratan award.